Lewes, DE -- (SBWIRE) -- 05/26/2016 -- Report forecast the Smart Machines Market in Europe to grow at a CAGR of 15.18% during the period 2016-2020.

The growing need for process improvements and the need to reduce cost on major process related parameters drive the adoption of smart machines in both the industrial and service industries. Major level of adoption is witnessed in the industrial set-up mainly due to the advantages of smart machines in streamlining the complete production or manufacturing processes.

The industrial sector is governed by machines that are operated according to set parameters and continue in the process with the aid of automation solutions. Robotics and smart machines are the next generation of automation technologies that are adopted in factories to enhance productivity and cut process-related operational expenses.

Service industries, which are highly customer centric, are on the verge of developing a one-stop solution environment with the existing workforce. Smart machines, such as expert systems and digital assistants, are deployed to address the growing consumer enquiries and complaints. Successful implementation of smart machines in service industries is expected to garner 25%-30% new customers in the banking and retail sectors.

The report covers the present scenario and the growth prospects of the Smart Machines Market in Europe for 2016-2020. To calculate the market size, the report considers revenue generated from the sales of smart machines such as expert systems, autonomous robots, and digital assistants in Europe.

The market is divided into the following segments based on type:
- Expert system
- Autonomous robot
- Digital assistant

According to the report, a key growth driver is the reduction of redundancy in operations and increased safety. The implementation of automation and robotics in a process or discrete industry minimizes the repeated operations performed by the skilled workforce. Organizations across industries are looking to curtail the use of labor in repeated operations. This increases the process efficiency, and reduces the cost incurred when deploying a human labor.

Further, the report states that one challenge that could hamper market growth is the lack of finance for smart machine companies.

Smart Machines Market in Europe 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the Smart Machines Market in Europe: BAE Systems, Creative Virtual, and Rethink Robotics.

Other Prominent Vendors in the market are: Anki, Artificial Solutions, Astute Solutions, Knightscope, OpiFlex, QBotix, Robotics Inventions, Rockwell Collins, and Ward Systems Group.

Market driver
- Reduction of redundancy in operations and increased safety
- For a full, detailed list, view our report

Market challenge
- Resistance to smart machines due to apprehension of job losses
- For a full, detailed list, view our report

Market trend
- Development of M2M technologies
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 53 pages and 22 Exhibit "Smart Machines Market in Europe 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Value chain analysis, Market segmentation by types, Market segmentation by end-users, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key takeaways, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/smart-machines-market-europe-2016-2020

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